Mastercard and Coinbase team to extend NFT purchasing capabilities

Mastercard is partnering with Coinbase to allow people to purchase non fungible tokens (NFTs) with their debit and credit cards.

Coinbase is working with Mastercard in order to classify NFTs as ‘digital goods’ and unlock a new way to pay using payment cards.

Coinbase only recently entered the NFT market and has unveiled plans to develop a decentralised marketplace where users are able to mint, collect and trade NFTs.

Despite this, it has acknowledged that the process of purchasing an NFT can be challenging for new joiners. This often requires users to open a crypto wallet, purchase crypto and then use to it purchase NFTs in an online marketplace.

Mastercard EVP for digital asset and blockchain products and partnerships Raj Dhamodharan said, “We’re working to make NFTs more accessible because we believe tech should be inclusive. When more people are included in new technologies, it spurs innovation, helps economies grow and expands choices for consumers.”

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